GSAtrain

Project management is the application of knowledge, skills, tools, and techniques to
project activities to meet project requirements. Project management is accomplished
through the use of the following 5 processes:
‰ Initiation
‰ Planning
‰ Execution
‰ Controlling and
‰ Closure
The project team manages the various activities of the project, and the activities
typically involve:
‰ Competing demands for: scope, time, cost, risk, and quality.
‰ Managing expectations of stakeholders.
‰ Identifying requirements.
It is important to note that many of the processes within project management are
iterative in nature. This is partly due to the existence of and the necessity for progressive elaboration1
 in a project throughout the project life cycle; i.e., the more you
know about your project, the better you are able to manage it.
The term “project management” is sometimes used to describe an organizational
approach to the management of ongoing operations. This approach treats many aspects
of ongoing operations as projects to apply project management techniques to them. A
detailed discussion of the approach itself is outside the scope of this document.
Project Management Knowledge Areas
The Project Management Knowledge Areas describes project management knowledge
and practice in terms of the various component processes. These processes have been
organized into nine knowledge areas​